Online retail giant Amazon is among the names being touted as a potential tenant for a major new logistics park on the south side of Aberdeen.
French oil and gas giant Total is moving from its current North Sea headquarters in Crawpeel Road, Altens, to Westhill.
It has just inked a deal to sell the 20-acre Altens site to Titan Investors, the firm behind the recently completed Silver Fin office development in Union Street.
The value of the transaction was undisclosed but it is understood the 400,000sq ft of development potential involved could be worth more than £50million.
London-based Titan is targeting growing demand for suitable logistics facilities around the UK, including from retailers as shoppers demand faster deliveries for their purchases.
For years, major distribution companies were priced out of the Aberdeen market by the oil and gas industry – but a new economic dynamic in the Granite City has changed the game.
Iain Landsman, sales broker and associate director at property firm CBRE in Aberdeen, said: “When the oil and gas industry was booming, there was a shortage of stock of industrial space.
“Oil companies outbid would always outbid other sectors and logistics companies were forced out to the periphery.”
But a string of distribution firms have recently been seeking facilities in the city,” Mr Landsman said, adding: “We are seeing very much the likes of Amazon coming into Aberdeen.
Amazon opened a new delivery station at Badentoy, Portlethen, last autumn, but is thought to be is on the hunt for a bigger site.
Titan, which has appointed CBRE and FG Burnett as letting agents, said it was targeting postal and retail distribution as well as energy sector companies.